Cheap Apartments for Rent in the Fountain Square Neighborhood of Indianapolis, IN from $600 (57 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Fountain Square area of Indianapolis.

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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1338 Barth Ave
$1,200 - $1,600
Total Monthly Price

Total Monthly Price

Base Rent
$1,200 - $1,600
Total Monthly Price
$1,200 - $1,600
1 to 2 Bedroom Apartment Available Now

1338 Barth Ave

1338 Barth AveIndianapolis, IN 46203
Affordability

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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Volrath
Studio to 2 Bedroom Apartments

Volrath

118 Palmer StIndianapolis, IN 46225
Student Housing
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550 Fletcher Ave
1 to 3 Bedroom Apartments

550 Fletcher Ave

550 Fletcher AveIndianapolis, IN 46203
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1354 Shelby St
1 Bedroom Apartments

1354 Shelby St

1354 Shelby StIndianapolis, IN 46203

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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The Vue
Studio to 2 Bedroom Apartments

The Vue

718 E Georgia StIndianapolis, IN 46202
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City's End
Studio to 2 Bedroom Apartments

City's End

1441 Prospect StIndianapolis, IN 46203
property at 1514 Ringgold Ave

$1,295

Total Monthly Price

Total Monthly Price

Base Rent
$1,295
Total Monthly Price
$1,295

3 Bedroom, 1 Bath Townhome for Rent

Available Now

1514 Ringgold Ave

IndianapolisIN46203

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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Showing Results 1-50, Page 1 of 2

Fountain Square, Indianapolis, IN Local Guide

Cheapest Available Fountain Square Apartments for Rent

 

The cheapest available apartment rental in the Fountain Square area of Indianapolis, IN is a 1 Bed unit found at Volrath priced from $825. Madison Lofts has the second lowest priced unit, which is a 1 Bed apartment currently listed from $899. Here are the most affordable Fountain Square apartments for rent in Indianapolis, IN:

Apartment ListingModel NameBed/BathPriced From
Volrath1BR/1.0BA1BR,1BA$825
Madison Lofts1 Bedroom 1 Bathroom1BR,1BA$899
Lofts on MadisonStudio, 1 bathStudio,1BA$1,050
Emhardt Apartments2BR/1.0BA2BR,1BA$1,195
The VueSTUDIO APARTMENTStudio,1BA$1,205
City's EndBarcelona 0.1Studio,1BA$1,207
Union SquareThe BartonStudio,1BA$1,250
CityWayClark1BR,1BA$1,295
Mozzo apartments7180A3 - Palma 1x1 - 642 Sqft1BR,1BA$1,349

Best Value Apartments for Rent in Fountain Square, IN

As of June 12, 2026 the best value apartment in the Fountain Square area is the $1.49 price per square foot 4 Beds, 4 Baths Model at 818-820 S Union St in the in the Concord neighborhood starting from $3,900. The second greatest value Fountain Square apartment is the 2BR/1.0BA Model at Emhardt Apartments starting at $1,195 with a $1.26 price per square foot in the Concord neighborhood. Here is today’s list of the best values for Fountain Square apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
818-820 S Union St4 Beds, 4 Baths4BR,4BA$1.49
Emhardt Apartments2BR/1.0BA2BR,1BA$1.26
1338 Barth Ave1338 Barth Ave2BR,2BA$1.78
The VueONE BEDROOM APARTMENT1BR,1BA$1.81
The LeoThe Baldwin1BR,1BA$2.02
Lofts on Madison1 Bed, 1 bath1BR,1BA$2.03
PinnexA11BR,1BA$2.17
Mozzo apartments7180A3 - Palma 1x1 - 642 Sqft1BR,1BA$2.10
Madison Lofts1 Bedroom 1 Bathroom1BR,1BA$1.44
Volrath1BR/1.0BA1BR,1BA$1.38

Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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Your Guide to Picking the Perfect Indianapolis Neighborhood for Student Renters

Learn About the Best Neighborhoods to Rent Near College Campuses in Indianapolis, IN | Find Charlotte Indianapolis Student Housing at ApartmentHomeLiving.com

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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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Quick Rent Budget Calculator

How much rent can you afford?

The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Pet Friendly Lifestyle
Fountain Square, Indianapolis, IN

Ranked #126

Among cities in Indiana for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

3.5
Pet Friendly

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Frequently Asked Questions about Cheap Fountain Square Apartments

What is a cheap apartment in Fountain Square?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Fountain Square is under $1,349.

What is the price of a cheap apartment in Fountain Square?

The cheapest apartment in Fountain Square is Volrath which is listed at $825, while the average apartment in Fountain Square costs $14,862.

What types of apartments are the cheapest in Fountain Square?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 1 regular apartments in Fountain Square that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

Expert Rental Resources

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

Helpful Local Expert Guides

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A Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent in Indianapolis

Written by: Wendy Melton

Indianapolis is not only the state capital of Indiana, it’s also a shining example of what Midwestern living is all about. I’m Wendy, your ApartmentHomeLiving.

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Your Guide to Picking the Perfect Indianapolis Neighborhood for Student Renters

Written by: Wendy Melton

Indianapolis is well-known for being one of the top college cities in the country. Local colleges and universities are ranked in the Top 10 when it comes to sports and academic excellence.

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Find Your Indy Home: A Guide to Indianapolis Apartment Rentals and Neighborhoods

Written by: Wendy Melton

My name is Wendy, and I've lived in Indiana for most of my life. Indianapolis is our state capital, and many people consider it the heart of the Midwest. People come from all around to explore everything Indianapolis has to offer.

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Indys Innovation Hub: Top Indianapolis Employers and the Neighborhoods that Welcome You Home

Written by: Wendy Melton

Indianapolis is truly the heart of the Midwest. No matter what career path you choose, opportunities for advancement are everywhere.

Articles, How-To's, and Tips

decorative image for How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide article

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

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Creative Ways Developers Reimagine Retail Spaces as Residential Units

Written by: Robin Stewart

Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.

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Neighborhood and Market Insights: How to Choose the Right Area to Rent

Written by: Robin Stewart

Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.